Retail Rocks is an innovative concept which focuses on the creation of successful, local retail firms. It aims to revitalise and regenerate town centres and communities by encouraging, enabling and supporting sustainable retail entrepreneurship.
It also aims to break down existing socio-economic and demographic barriers, re-educate and create a positive mind-set and provide a catalyst for widespread regeneration, creating the confidence for further investments.
The Aberdeen scheme, funded by the Scottish Government through a £573,500 award made under the Town Centre Regeneration Fund will engage with the local community by giving entrepreneurs the opportunity to open a retail business in Torry.
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Sponsorship and in-kind support will be provided by other organisations and companies, including Aberdeen City Council. Private firm Retail Rocks Limited has offered to provide guidance for the implementation of the concept, the retail expertise and business networking.
The retail-led project will provide initial support to aspiring entrepreneurs who want to start up a retail business in Torry. This will take the form of providing a shop unit rent-free for a year and mentoring support on both entrepreneurship and expert retail skills and techniques, provided by major high street retailers.
The competition-based programme will engage with the local community by giving aspiring entrepreneurs the chance to open retail businesses in Torry. Applicants with a retail business idea will be asked to compete for the opportunity to receive the proposed support package from Retail Rocks Aberdeen.
Aberdeen City Council said the competition will be launched in spring and the new businesses are due to be up and running by the summer.
The Town Centre Regeneration Fund grant is to be matched with £584,150 in the form of in-kind contributions and budget allocations from the council over three financial years, plus external funding allocations, in-kind contributions and sponsorships.
Council chief executive Sue Bruce is chairing the project steering group to oversee the project's implementation and report on its progress.
The Finance and Resources Committee will consider the report when it meets on Thursday, 28 January.
(GK/BMcC)
